You are here

COK Sodality Co-operative Credit Union Limited v Intertrade Finance Corporation Limited (In Temporary Management) and The Financial Services Commission (As Temporary Manager of Intertrade Finance Corporation Limited) v Intertade Finance Corporative Limited (In Temporary Management)[Consolidated Suits]

Court: 
Supreme Court
Catchwords: 

Company Law-Law f trusts-Financial Services Commission Act-FSC assuming temporary management of institution carrying on both securities and cambio business-applying for stay of proceedings commenced against institution-subsequent filing of Winding Up Petition by the FSC-cambio operation-whether trust arises when moneys paid for particular purpose not fulfilled-whether funds become assets of insolvent company or whether impressed with a trust-Methods of distribution of assets when assets insufficient to fulfil all claims-Bills of Exchange Act-dishonoured cheques-liquidated damages-entitlement to judgment for amount stated in cheque

Document Type:

Year: 
2012
Suit/Claim number: 
2011 HCV 03174
Neutral Citation: 
[2012] JMSC Civ nO. 57